The law that covers executor negligence starts with the duty of care owed by executors both to their co-executors and the beneficiaries of the estate.
The executors must display a reasonable level of skill and caution while performing their duties. Failure to meet this required standard could result in a potential claim for negligence.
Should an executor not act diligently, neglect to protect the estate's assets, or cause undue delays, they could potentially be held legally accountable for resulting financial losses.
An executor negligence claim refers to a legal proceeding initiated against an executor who has violated their duty of care, leading to financial losses for another party. In such cases, apart from seeking compensation, the court also has the authority to remove the executor from their position.
When the executor is a trained professional, such as a solicitor or an accountant, the executor's negligence claim is handled according to the principles governing professional indemnity law. A higher level of care is expected from a professional executor compared to an individual without professional expertise who is fulfilling the role.
Professional executors typically have professional indemnity insurance, which means that if they cause financial losses, the awarded damages are covered by their insurance if the executor's negligence case is successful. Conversely, non-professional (lay) executors may lack insurance and personal assets to cover an award, so this factor should be considered before pursuing legal action.
We offer a free claims assessment, for claims exceeding £10,000 in value. Just provide us with details of the executor's shortcomings and the financial losses you have experienced, and we will assess the potential for pursuing an executor negligence claim.